scholarly journals THE EFFECT OF COMPANY CHARACTERISTICS TOWARDS CARBON EMISSION DISCLOSURE AND ITS IMPACT ON ECONOMIC CONSEQUENCES IN NON-FINANCIAL REGISTERED COMPANIES IN INDONESIA, MALAYSIA, THAILAND AND THE PHILIPPINES PERIOD FOR 2008-2017

2021 ◽  
Vol 3 (1) ◽  
pp. 16-37
Author(s):  
Gatot Nazir Ahmad ◽  
Roh Ajiasri ◽  
Ari Warokka
Keyword(s):  
Carbon Emissions ◽  
Stock Price ◽  
Trading Volume ◽  
Price Volatility ◽  
The Philippines ◽  
Economic Consequences ◽  
Stock Price Volatility ◽  
Bid Ask Spread ◽  
The Impact ◽  
Positive Effect

This research was conducted to know the company's characteristics, the determining factors for the disclosure of carbon emissions, and the impact of the disclosure of carbon emissions on economic consequences. The financial result in this study is the decision-making behavior of businesses, governments, and creditors as a result of accounting reporting, in this case, environmental disclosures contained in annual reports and sustainable reports. This study's sample amounted to 45 companies registered in Indonesia, Malaysia, Thailand, and the Philippines, with an observation period of 2008 to 2017. To measure the disclosure of carbon emissions by creating a checklist based on information from the CDP. Company characteristics are proxied by profitability, leverage, size, and sales growth, while economic consequences are proxied by the bid-ask spread, trading volume, and stock price volatility. The analytical method used in this study is the Partial Least Square (PLS) method using the WARP PLS version 5.0 application. From the test results, it was found that Profitability and Size had a positive effect on disclosure of carbon emissions, growth sales had a negative effect, and leverage had no effect. Meanwhile, the impact of disclosing carbon emissions on the bid-ask spread, trading volume, and stock price volatility has a positive effect.

scholarly journals ANTECEDENTS AND CONSEQUENCES OF CARBON EMISSIONS’ DISCLOSURE: CASE STUDY OF OIL, GAS AND COAL COMPANIES IN NON-ANNEX 1 MEMBER COUNTRIES

2018 ◽  
Vol 33 (2) ◽  
pp. 99 ◽  
Author(s):  
Dody Hapsoro ◽  
Ambarwati Ambarwati
Keyword(s):  
Carbon Emissions ◽  
Trading Volume ◽  
Price Volatility ◽  
Economic Consequences ◽  
Share Price ◽  
Test Results ◽  
Analysis Method ◽  
Oil Gas ◽  
Bid Ask Spreads ◽  
Positive Effect

The purpose of this study is to determine the characteristics of companies that voluntarily disclose carbon emissions and to examine the economic consequences of the carbon emissions’ disclosure. Companies used in the sample are oil, gas and coal companies in non-Annex 1 member countries registered in the Osiris database. The observation period was from the commencement of the Kyoto Protocol's second commitment to date, or from 2013 to 2016. Measuring the carbon emissions’ disclosure is achieved by using a checklist developed from an information request sheet from the CDP (Carbon Disclosure Project). An assessment of the extent of the disclosure is made using the content analysis method. Company characteristics are proxied with leverage, profitability and firm age, while the economic consequences are proxied by using bid-ask spreads, the trading volume and share price volatility. The data analysis method used in this research is the Partial Least Square (PLS) method using the WarpPLS 4.0 application. Test results show that leverage, profitability and firm age have a positive effect on the carbon emissions’ disclosure. Furthermore, the test results show that carbon emissions’ disclosures have a positive effect on the trading volume and a negative effect on the bid-ask spreads and share price volatility. The above findings imply that firms with higher leverage, higher profitability and are older are more willing to reveal their carbon emissions’ disclosures. The more information that is contained in a carbon emissions’ disclosure, the more investors are interested in trading that company's shares, while the broader the carbon emissions’ disclosure is, the smaller the bid-ask spread and the less volatile the stock price are.

scholarly journals The effect of profitability and liquidity on CSR disclosure and its implication to economic consequences

2019 ◽  
Vol 9 (2) ◽  
pp. 143
Author(s):  
Dody Hapsoro ◽  
Ratna Dwi Sulistyarini
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Stock Price ◽  
Trading Volume ◽  
Price Volatility ◽  
Economic Consequences ◽  
Negative Effect ◽  
Csr Disclosure ◽  
Corporate Social ◽  
Positive Effect

This study examines the effect of profitability and liquidity on CSR disclosure and its implication on economic consequences. This study was driven by the inconsistency of the results of previous studies in testing the factors that influence the CSR disclosure. This study used the CSR disclosure to measure Corporate Social Responsibility disclosure index (CSRDI) based on the index of the Global Reporting Initiatives G4 Guideline (GRI G4). The results show that profitability has a significant and positive effect on CSR disclosure, while liquidity does not affect CSR disclosure. Furthermore, CSR disclosure has a negative effect on the bid-ask spread, CSR disclosure has a positive effect on trading volume, while CSR disclosure doesn't affect stock price volatility. This study impklies as the following;: companies that have high profitability should have strong commitment to disclose corporate social responsibility because it can help reduce information asymmetry.

scholarly journals FAKTOR PENENTU BID-ASK SPREAD SAHAM LQ45

2020 ◽  
Vol 2 (1) ◽  
pp. 43-54
Author(s):  
Sabna Ainazah Fatikhah ◽  
Siti Puryandani
Keyword(s):  
Stock Prices ◽  
Stock Price ◽  
Trading Volume ◽  
Linear Regression Analysis ◽  
Price Volatility ◽  
Multiple Linear Regression Analysis ◽  
Company Size ◽  
Stock Price Volatility ◽  
Company Stock ◽  
Bid Ask Spread

Investors always use various information to get the maximum profit in investment activities. One such information is the bid-ask spread. This study aims to determine the effect of company size, stock prices, stock price volatility and trading volume on the bid-ask spread of companies listed in the LQ45 index in the period 2015 to 2018. A total of 14 companies were taken as a purposive sampling sample in order to obtain 56 observational data. The analytical method used in this study is the method of multiple linear regression analysis. The results showed that stock prices and stock price volatility affect the bid-ask spread. While company size and trading volume do not affect bid-ask spread. Investors can consider the size of the company, stock prices, stock price volatility, and trading volume to avoid high spreads and get profit in the future.

Dividend policy and stock price volatility of industrial products firms in Malaysia

2018 ◽  
Vol 13 (1) ◽  
pp. 203-217 ◽  
Author(s):  
Rozaimah Zainudin ◽  
Nurul Shahnaz Mahdzan ◽  
Chee Hong Yet
Keyword(s):  
Stock Price ◽  
Dividend Policy ◽  
Price Volatility ◽  
Industrial Products ◽  
Stock Price Volatility ◽  
Dividend Payout ◽  
Content Type ◽  
Crisis Period ◽  
The Impact ◽  
The Relationship

Purpose The purpose of this paper is to analyse the relationship between stock price volatility (SPV) and dividend policy of industrial products firms listed on Bursa Malaysia. Design/methodology/approach The sample comprises 166 industrial products public-listed firms covering a time span from year 2003 to 2012. Using Baskin’s framework, firm’s SPV is related to dividend payout, controlling for earnings volatility, firm size, leverage and growth of assets. Further, the impact of the global financial crisis on the relationship between SPV and the tested variables is examined. Findings Earning volatility significantly explains SPV of industrial product firms during the crisis period, while dividend payout ratio (PR) predominantly influences volatility during pre- and post-crisis sub-periods. The empirical results indicate that dividend policy is a strong predictor of SPV of industrial products firms in Malaysia, particularly during the post-crisis period. Originality/value The paper explores the firm’s SPV and dividend policy for a new set of data focussing on industrial products firms listed on the Malaysian Stock Exchange.

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